Top Ace Asset Management Ltd

CIK

1614200

Location

HONG KONG, K3

Portfolio Value

Micro $23,264,636

Diversification

Highly concentrated

Filing Date

Global Rank

#6,134 / 6,900 ▼ 70 · as of Sep 2023

Top Industry

Internet Content & Information 48.4%

3Y Alpha vs SPY

-20.4%

Period ended 2 years ago

Filed Nov 2, 2023 · 2y

4 quarters · since Dec 2022

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+0.2%

SPY

+76.5%

Annualised alpha

-20.8%

Max drawdown

−34.7%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

10 positions · as of Sep 30, 2023 · Δ vs Jun 30, 2023

Top Position

46.2%

+24.8 pts

Top 5

82.5%

+6.4 pts

Top 10

100.0%

+0.8 pts

HHI

2,574

Highly concentrated+1,143

Portfolio Trend

4 quarters · across all stocks

Sector Breakdown

As of Sep 30, 2023

Sector	% Portfolio	Value	Positions
Consumer Cyclical	50.6%	$11,777,979	7
Communication Services	48.4%	$11,256,113	2
Technology	1.0%	$230,544	1

Last Quarter's Activity

Export CSV

Sep 30, 2023 vs Jun 30, 2023

Added To

Positions the filer increased

2 positions

Ticker	Company	Δ Shares	Shares	Value
BIDU	Baidu, Inc.	+40,300	80,000	$10,748,000
NVDA	Nvidia Corp	+500	5,300	$230,544
No positions match the current search.

Trimmed

Positions the filer reduced

3 positions

Ticker	Company	Δ Shares	Shares	Value
BABA	Alibaba Group Holding Ltd	−67,500	34	$2,949
PDD	PDD Holdings Inc.	−39,950	21,800	$2,137,926
XPEV	Xpeng Inc.	−34,250	100,000	$1,836,000
No positions match the current search.

New Positions

Positions the filer opened this quarter

3 positions

Ticker	Company	Shares	Value
YUMC	Yum China Holdings, Inc.	40,100	$2,234,372
NIO	NIO Inc.	208,800	$1,887,552
MNSO	MINISO Group Holding Ltd	57,700	$1,494,430
No positions match the current search.

Sold Out

Positions the filer fully exited

4 positions

Ticker	Company	Shares	Value
NTES	NetEase, Inc.	21,400	$2,069,166
FUTU	Futu Holdings Ltd	37,500	$1,490,250
TCOM	Trip.com Group Ltd	33,900	$1,186,500
BEKE	KE Holdings Inc.	70,300	$1,043,955
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

10 positions · $23,264,636 total · as of Sep 30, 2023

All sectors Communication Services Consumer Cyclical Technology

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
BIDU	Baidu, Inc. Communication Services	Added	80,000	+40,300	$10,748,000	+97.7%	46.20%
YUMC	Yum China Holdings, Inc. Consumer Cyclical	NEW	40,100	NEW	$2,234,372	NEW	9.60%
JD	JD.com, Inc. Consumer Cyclical	Held	75,000	0	$2,184,750	−14.6%	9.39%
PDD	PDD Holdings Inc. Consumer Cyclical	Reduced	21,800	-39,950	$2,137,926	−49.9%	9.19%
NIO	NIO Inc. Consumer Cyclical	NEW	208,800	NEW	$1,887,552	NEW	8.11%
XPEV	Xpeng Inc. Consumer Cyclical	Reduced	100,000	-34,250	$1,836,000	+1.9%	7.89%
MNSO	MINISO Group Holding Ltd Consumer Cyclical	NEW	57,700	NEW	$1,494,430	NEW	6.42%
BILI	Bilibili Inc. Communication Services	Held	36,900	0	$508,113	−8.8%	2.18%
NVDA	Nvidia Corp Technology	Added	5,300	+500	$230,544	+13.5%	0.99%
BABA	Alibaba Group Holding Ltd Consumer Cyclical	Reduced	34	-67,500	$2,949	−99.9%	0.01%